AUGUSTA - The Legislature's Joint Standing Committee on Innovation, Development, Economic Advancement and Business gave bipartisan approval to LD 1694, An Act To Create the Maine Redevelopment Land Bank Authority, on Thursday. The bill, sponsored by Rep. Melanie Sachs, D-Freeport, establishes land banks in an effort to convert vacant, abandoned and tax delinquent properties into productive use. The committee voted 10-1, with two members absent, in support of the legislation.
Land banks, which have been established in 18 states, use a variety of tools to clear titles, abate environmental hazards and target resources to redevelop properties into functional spaces for communities.
If passed into law, LD 1694 will give Maine the ability to access significant federal resources. Over $5 billion in federal funding has been approved for land bank initiatives, and pending federal legislation contains an additional $1.5 billion.
"This bipartisan bill presents a solution to a statewide problem how to help communities deal with compromised and abandoned properties and address issues such as our housing crisis," said Sachs. "These properties, due to title, tax or lien complications, environmental issues, functional obsolescence or other factors, are prohibitive to private investment or municipal redevelopment. Land Banks are proven models to redevelop properties that cannot be resolved by other means. Our coalition of over 50 organizations, with municipal officials from Sanford to Rumford to Caribou in our working group, reflects the fact that every community in Maine will benefit."
The bill also establishes the Development Ready Advisory Committee, which will help address barriers to development, particularly for smaller municipalities struggling to meet their redevelopment goals.
"When we talk about affordable housing in Maine, a part of the solution is having options for communities and available, affordable inventory for prospective homeowners," said Assistant Senate Republican Leader Matt Pouliot, R-Augusta, a co-sponsor of the bill. "LD 1694 helps address that by providing our municipalities with the tools and resources they need to convert properties that have issues into viable, valuable resources for those communities."
Sachs serves the towns of Freeport and Pownal in the Maine House of Representatives. She is a member of Legislature's Taxation and Energy, Utilities and Technology Committees. Additionally, she is a member of the Buildings, Infrastructure and Housing Working Group of the Maine Climate Council.
Pouliot is serving his second term in the Maine State Senate. He represents the people of Senate District 15, which consists of Augusta, China, Oakland, Sidney and Vassalboro. He currently serves on the Taxation Committee and the Legislative Council.
Contact:
Jackie Merrill [Sachs], c. 812-1111
Michael Fern [Pouliot], c. 852-8442